JPEG is woefully outdated with the lack of HDR and modern compression, HEIF can’t be used without paying a license, webp was designed just for extremely efficient small images rather than local storage, avif I’ve never seen used ever, and JPEG XL is on track to be the next major format.
I agree we don’t need an avif2, but until jpeg xl there really weren’t any decent alternatives for jpeg.
https://en.wikipedia.org/wiki/Comparison_of_graphics_file_fo...
Pretty much only the ones I listed previously are serious contenders in the space right now.